I agree with Brian.
I've got Axxis (formerly Repco) Metalmasters on my wife's 300E and they make very little dust and do not squeal at all. A very satisfactory replacement for the OEM pads.
I use EBC kevlar-based "green stuff" pads on my wagon, along with EBC drilled and slotted front rotors. These seem to make a little more dust than the Metalmasters, but they don't squeal and do a very nice job of braking the car. They are a lot better, in terms of dust, than OEM. They are also about twice the price of OEM.
I haven't had these pads on long enough to give you any feedback on wear to pads or rotors.
Hope this helps
92 300E (Black/Grey interior: wife's car)
94 E320 Wagon (White/Saddle interior, Eibach springs, '96 E420 16 x 7.5 wheels)